Derek McDowell (Labour)

I do not want to sound pernickety but in a sense this goes back to where we were on Second Stage. We are looking to create a more lightly regulated form of CCF. That is fair enough in so far as it goes but if we have any purpose at all in this House it is our duty to try to ensure that a satisfactory level of regulation is maintained. Essentially, the Minister of State is telling me to trust IFSRA because it will do the business. Perhaps that is what we have to do, although I am not suggesting all the regulations should be set down in primary legislation. I accept we cannot do that but will the Minister of State indicate what he believes will be contained in the regulations? I do not want chapter and verse but perhaps he could give me some idea of what they will contain.